DXM : 46% LONG = Still high !!!!!!! Most of retails are still LONG, think in the other side.
Seasonnality : neutral then bull during january but SHORT accordy to the "pattern prediction".
COT Strategy : AUD is reaching a strong resistance around -5 on the COT history Chart AUD.
No FLIP.
Sentiment score :
Daily sentiment : Negative thanks to China covid policy...
Supply/Demande area :
We're on a strong resitance of 89.23.
Support/Resistance :
Strong resistance at 83.23 on DAILY.
Trend :
Under all SMMA = Bearish
Economic News :
*Rapid reopening movements, easing of policy. Are we going to see economic recovery? Morgan Stanley says YES! And raised its 2023 China GDP forecast to 5.4% from 5. But in reality...it's not for today.
*China realizes that opening up is doing too much harm and even though quarantine is no longer mandatory as of January 8, 2023, hospitals, deaths and cases are exploding (not good). There is a good chance they will reverse their decision so this indicates AUD SHORT. If no recovery in China = AUD weak because no or less exports to China since there is less demand.
*Less growth in China means les importation and an impact on the AUD.
The Bank of Japan, in a move that surprises the market, is extending the cap on the control of the 10-year yield curve to 0.50% instead of 0.25% previously. In other words, it is starting to be more hawkish, although it still maintains a strong control. The yen is strengthening and the Nikkei is falling.
Seasonnality : neutral then bull during january but SHORT accordy to the "pattern prediction".
COT Strategy : AUD is reaching a strong resistance around -5 on the COT history Chart AUD.
No FLIP.
Sentiment score :
Daily sentiment : Negative thanks to China covid policy...
Supply/Demande area :
We're on a strong resitance of 89.23.
Support/Resistance :
Strong resistance at 83.23 on DAILY.
Trend :
Under all SMMA = Bearish
Economic News :
*Rapid reopening movements, easing of policy. Are we going to see economic recovery? Morgan Stanley says YES! And raised its 2023 China GDP forecast to 5.4% from 5. But in reality...it's not for today.
*China realizes that opening up is doing too much harm and even though quarantine is no longer mandatory as of January 8, 2023, hospitals, deaths and cases are exploding (not good). There is a good chance they will reverse their decision so this indicates AUD SHORT. If no recovery in China = AUD weak because no or less exports to China since there is less demand.
*Less growth in China means les importation and an impact on the AUD.
The Bank of Japan, in a move that surprises the market, is extending the cap on the control of the 10-year yield curve to 0.50% instead of 0.25% previously. In other words, it is starting to be more hawkish, although it still maintains a strong control. The yen is strengthening and the Nikkei is falling.